Is a personal account on Wealthsimple trading platform considered a margin account?

Asked 4 years ago

Hi, I just funded my WS personal trading account. Would it also be considered as a margin account, or do I have to open a separate one for that? Wish me luck on the new adventure :)

Margin account Wealthsimple Personal trading account

Osasere Okunloye

Tuesday, June 29, 2021

No, a Wealthsimple personal account is not the same as a margin account. It is just a normal cash account where you can make withdrawals instantly. They are also called taxable accounts. You will have to open another account to trade on margin. Good luck on this new adventure.